| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Poor |
| Demographics | 28th | Poor |
| Amenities | 58th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1051 Del Mar Ave, Chula Vista, CA, 91911, US |
| Region / Metro | Chula Vista |
| Year of Construction | 1979 |
| Units | 42 |
| Transaction Date | 2000-04-13 |
| Transaction Price | $2,175,000 |
| Buyer | EKLUND DONALD CLAYTON |
| Seller | STEVENSON DAVID W |
1051 Del Mar Ave, Chula Vista Multifamily Investment
Neighborhood renter concentration and a high-cost ownership market point to durable tenant demand, according to WDSuite s CRE market data, while 1979 construction suggests competitive positioning with room for modernization.
Located in Chula Vista s Urban Core, the area surrounding 1051 Del Mar Ave combines everyday convenience with steady renter demand signals. Amenity access is competitive among the 621 San Diego-Chula Vista-Carlsbad neighborhoods, with cafes and restaurants measuring in the top decile nationally and pharmacies and groceries above metro medians. Park access is limited, which may modestly influence lifestyle appeal, but food, childcare, and daily needs are well covered.
The neighborhood s housing stock skews slightly older than the property (average vintage 1972), giving a 1979 asset a relative edge on systems and finishes; investors should still plan for targeted upgrades as building systems age. Neighborhood NOI per unit ranks competitively versus the 621-neighborhood metro cohort, indicating income performance that can support ongoing capital planning.
Renter-occupied share is elevated (57% of housing units), reinforcing depth of the tenant base and supporting leasing stability for mid-sized assets. At the same time, occupancy across neighborhood properties trends below the metro median, so active leasing and retention programs remain important to sustain performance.
Within a 3-mile radius, recent years show modest population growth alongside an increase in households, and projections indicate further household expansion with smaller average household sizes. This dynamic typically enlarges the renter pool and supports occupancy, even as population levels flatten. Elevated home values relative to incomes (high national percentile) signal a high-cost ownership market that tends to sustain multifamily demand and pricing power, per commercial real estate analysis from WDSuite.
Safety outcomes in the immediate neighborhood track below metro and national norms, with overall conditions not among the stronger performers in the San Diego-Chula Vista-Carlsbad region. However, property crime shows notable year-over-year improvement, trending favorably compared with many neighborhoods nationwide, according to WDSuite s CRE market data. Investors should underwrite with conservative assumptions, emphasize lighting and access controls, and monitor ongoing trends rather than relying on block-level anecdotes.
Proximity to regional employers supports a broad commuter tenant base, anchored by utilities, finance, aerospace/defense, biopharma, and technology roles noted below. These employment centers can aid leasing velocity and retention for workforce and middle-income renters.
- Wells Fargo financial services (8.8 miles)
- Sempra Energy utilities (9.0 miles) HQ
- L-3 Telemetry & RF Products defense & aerospace offices (14.8 miles)
- Celgene Corporation biopharma (20.3 miles)
- Qualcomm semiconductors (20.8 miles) HQ
This 42-unit, 1979-vintage asset sits in a renter-heavy Urban Core neighborhood where elevated ownership costs strengthen reliance on multifamily housing. Amenity access is competitive across the metro, supporting day-to-day livability, while neighborhood income performance (NOI per unit) ranks well versus peers. According to CRE market data from WDSuite, renter-occupied share is high and household counts within a 3-mile radius are increasing, expanding the tenant base even as average household size trends lower.
The vintage provides a relative edge versus older local stock, with potential to capture value through selective renovations and systems upgrades. Underwriting should account for below-metro occupancy in the surrounding area and tenant affordability pressures, but the combination of renter depth, employer access, and high-cost ownership dynamics supports a durable long-term thesis.
- Renter-heavy neighborhood supports demand depth and retention
- 1979 vintage outpositions older local stock; value-add upgrades can enhance competitiveness
- Competitive amenity access and strong regional employer base aid leasing
- High-cost ownership market underpins multifamily pricing power
- Risks: below-metro neighborhood occupancy and renter affordability pressure warrant conservative underwriting